The best chance for Nanaimo is if the league bends now (seeing this as chance to drive a knife into the BCHL's heart once and for all) and allows them to come in and get established, while they bring forward a plan to get private capital to build a facility more in keeping with the league's needs. So, sort of like what happened in WInnipeg. It's risky - look how Winnipeg turned out - but unlike Winnipeg, there is a real need for a multi-purpose events centre of that size in the mid-Island. It's a long shot, but I could see an argument for it (I say go for it, because it's not my money!)
As for the rest of that post: hard pass. Cranbrook? Not again. If you're going to the Kootenays, it would make more sense to go to Trail, because you could market it to the entire west Kootenay region, but it's still a terrible bet. Sherwood Park and Okotoks? Sherwood Park drew 451 for a recent game and neither of those rinks are big enough.
A 29 team WHL? At some point it collapses under its own weight.